The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1887-10-22
GARRETT RESIGNS
THE PRESIDENCY OF THE b. & 0.
Meeting Of the Board OF Directors-Diy.
idends Passed and Dividends De-
eIared-ResoIutio Of Re-
greet at Mr.. CARROTS
Ultimatum.

BALTIMORE, Oct. 1.-THE board
of directors of the Baltimore d. Ohio
Railroad Company held their regu-
lar meeting to-day. The county and
State as well as the private stock
holders were fully represented. The
board authorized the payment of five
per cent dividend on the stock of the
Washington branch. The recon-
mendation of the finance committee
that no dividend be paid on the
stock of the main line for the past
six months was adopted. The sale
of the Baltimore d Ohio telegraph
to the Western Union Telegraph
Company was ratified. The railroad
company receives for this property
100000 in stock of the Western
Union, and an annual rental of $780,
600. The following letter was then
read from Mr.. Robert Garrett, re-
signing the presidency of the Balti-
more d Ohio Company:
BALTIMORE, MD, Oct. 9, 1887.
To The Directors Of the baltimore d
Ohio Rdilroad Company:
GENTLEMEN:--It is well known to
many of you that it has been for
some time my fixed desire and in
tention to withdraw, when ! proper
ly could from the labors which nave
been imposed upon me 10y nv odicial
position as President of the Balti-
more d Ohio Railroad Company.
But, as you are also aware, the poll
ey and understandings of the com
pany, which / necessarily assumed
at the time ! accepted the presiden-
cy, were such as to render it improp-
er for me, with due regard to the
interests involved, to withdraw from
their prosecution. Now, however,
that arrangements have been made
which, as / hope and believe, will
secure many of the ends for which
we have so long struggled, and the
business and finances of the com
pany being in sound and satisfac-
tory condition, ! am in a position to
tender you, as l do hereby, my resig-
nation as president of the company
/ thank you for the courtesy and
consideration which you have uni
formly extended to me, and l trust
you will be able within brief period
to fix upon proper person to whom
/ may surrender the trust with
which you have honored me. ] am,
Very respectfully,
(Signed) ROBERT GARRETT.
After a few feeling remarks by
Mr.. MeKenny White, a city director,
and Mr.. W. f. Burns, President pro-
tenn, who presided over the meeting
in the absence of Mr.. Garrett, the
resignation was accepted, and the
following resolution unanimously
adopted
"Resolued, That in accepting the
resignation of Robert Garrett of the
Presidency of this company we dc
so with deep regret. We know how
earnest has been his desire to with
draw from the exacting duties of the
office, and how imperative, up to this
time, has been the necessity that he
should not do so. Many of the
measures of policy whose completion
was undertaken when he became
President, have been pursued
through difficulty and peril, till
their success is no longer doubtful
We appreciate the fact that this re-
suit has been largely due to his
courage and unselfsh devotion to
the company's interest, and congrat-
ulate him on the fact that in leaving
the office at this time he not only
does so with the affection and re-
spect of all those connected with the
company, but with recognition by
all those acquainted with it of how
great have been the services he has
rendered"
Mr.. George Van Bibber, a city di-
rector, nominated Mr. Robert Gar
rett as director to fill the vacancy
made by the death Of Colonel J
Speer Nichols. 1t is understood
that he will occupy places in all the
important committees. Meantime
Mr.. VIM. T. Burns will act as Presi-
dent until the election of successor
to Mr.. Garrett at the annual meet
ing of the stock holders in Novem
Der.